A tribute to Jack Bogle
“You cannot measure the quality of a man by the size of his bank account, but in Jack Bogle’s case, you can measure it by the size of your bank account. No one on this planet has done more to increase the lot of individual investors in the last 50 years than John C. “Jack” Bogle, founder and former chairman of the Vanguard Group and creator of the world’s first index mutual fund.” – Forbes
“If there is ever an official investor hall of fame, Jack Bogle would be a lock as a unanimous first-team ballot winner in the inaugural class.” – The Motley Fool
“I don’t believe that there has ever been, nor will there ever be, anyone who has given more to investors and taken less in return than Jack Bogle.” – Morningstar
Jack may not have the name recognition of the legendary Warren Buffett, but his contribution to the world of investing can’t be understated.
He founded the Vanguard Group in 1974 and pioneered the first index fund two years later, a mutual fund that was tied to the S&P 500 Index (Investopedia). Investors ponied up just $11 million. It was mocked as “Bogle’s Folly.”
Today, there are over $13 trillion invested in passively managed mutual funds or exchange-traded funds (ETFs) worldwide, according to Barron’s.
Jack’s idea transformed an industry, significantly lowered costs for large and small investors, helped democratize investing, and, let me add, is a staple to the approach we use in many client portfolios to assist clients as you run the race to your financial goals.
His long-term approach has paid dividends for disciplined investors.
Jack passed away on January 16. He was 89 years old.
Info provided courtesy of Horsesmouth